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What to Know About Applying for a Chase Card NOT Impacted by the “5/24” Rule

July 30, 2017
by
Million Mile Secrets Million Mile Secrets

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Million Mile SecretsMillion Mile Secrets Team

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But because you’re opening a new card, this account WILL appear on your credit report. And can impact your ability to get other Chase cards in the future. Because it will count toward your 5/24 status.

If you want to avoid having new accounts appear on your credit report, I recommend applying for certain small business cards. For example, AMEX small business cards do NOT appear on your personal credit report. So they don’t count against you if you plan to apply for Chase cards.

Even If You’re Over the Chase “5/24” Limit, It’s Still Possible to Earn Valuable Sign-Up Bonuses With Cards Like the Chase Hyatt Card

Folks Above the “5/24” Limit Can Still Consider the Chase Amazon Prime Rewards Visa, Which Is NOT Restricted by the Bank’s Rules

And Million Mile Secrets reader Ricky says he opened 10 new cards in a 24 month timeframe and still got an instant approval for the Chase British Airways card.

Keep in mind, just because it’s possible to be approved for these cards does NOT mean it’s a guarantee. Chase considers multiple factors when evaluating your application. And they can still deny your application if they feel like you’ve opened too many new accounts.

Also remember, signing-up for one of these cards means a new account will appear on your credit report. So this will impact your ability to get other Chase travel cards in the future, depending how many recent accounts you’ve opened.

For example, let’s say your credit report shows 4 new credit card accounts in the past 24 months. If you get the Chase IHG card, you will now be at the 5/24 limit. So you’ll have to wait to drop below if you want other Chase cards like:

So you can still earn lucrative sign-up bonuses without impacting your ability to get Chase cards in the future. For example, Million Mile Secrets team member Keith has exclusively been applying for small business cards recently. This way when he drops below the 5/24 limit, he’ll be eligible to earn sign-up bonuses on popular Chase travel cards!

Bottom Line

There are 7 Chase cards NOT impacted by the bank’s tougher application rules. Even if you’ve opened ~5 or more credit cards (from any bank) in the past 24 months, it’s still possible to get:

Keep in mind, while you’re eligible to be approved for these cards, it does NOT mean it’s a guarantee. It’s still up to Chase to evaluate your application. And if you open one of the personal Chase cards, it WILL count toward your 5/24 limit.

Remember, certain small business cards do NOT appear on you personal credit report. So you can earn valuable sign-up bonuses with these cards without impacting your ability to get Chase cards.

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

11comments

I applied and got approved of 8 credit cards business and personal by Amex, CITI, Barclay and Chase prior to my last two Chase attempts. It is when my personal cards exceed 5 within 24 months, Chase started to disqualify me for their additional business or personal credit cards(even the ones that I was pre-approved!). Also I did apply with my S corp’s Tax ID and my S corp has been operating for six years now but it didn’t matter. They still require to look at your SSN because they say that their cards are for small business owners. They are pretty strict when it comes to “too many cards opened over a short period of time.” I got approved afterwards of another CITI credit card but I would not venture to try Chase again until I am through the 24 months period. But if you have a total of over 300K asset with Chase, they might cut you a special deal-that’s what my personal banker told me.

There is a LOT of conflicting info regarding of Chase business cards affect 5/24. Some are adamant that it does, and some say no. I am wondering if the differentiating factor is whether you apply with your SSN or with a Tax ID? It makes sense that that may affect this. Any thoughts??

Since posting this, we have gotten approved for a SW Business card, which puts us at 6/24 from June 2016 to October 2017. (That includes an Ink Business Card May 2017). (We apply for business cards with a tax id). It *seems* that using SSN only results in it being applied to 5/24. Of all the cards included above, only one is a non-Chase card (Amex). So even the business cards are in the Chase system.

What I’ve read others say is that, while business cards will not count against the 5/24, you still need to be under the 5/24 to apply for one and get approved for it – this is if your just doing the application online. Others have disputed this but it’s what I’ve read. In another words if you want to apply for the Chase Ink Business Prefferred, you need to be under the 5/24 to be approved but it won’t count towards it.

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)